National cynical on loan sharks

new-zealand-labour-party

Sun Nov 06 2011 13:00:00 GMT+1300 (New Zealand Daylight Time)

National cynical on loan sharks

Sunday, 6 November 2011, 4:35 pm
Press Release: New Zealand Labour Party

Carol
BEAUMONT
Consumer Affairs Spokesperson

6 November 2011 MEDIA STATEMENT
National cynical on loan sharks

National’s announcement that it will clamp down on loan sharks --- after failing to act during the last term of Parliament --- will be seen as a cynical and heartless betrayal of those whose lives have been wrecked by unethical and predatory lenders, says Labour’s Consumer Affairs spokesperson Carol Beaumont.

“They’ve had three years to do something, and they’ve done nothing,” Carol Beaumont said.

“They even had tailor-made legislation in the form of my bill, and refused to pick it up.

“Thousands of New Zealanders have had their lives wrecked by unscrupulous lenders,” Carol Beaumont said.

“Now National says it wants to change consumer credit laws to set up a code of ethical lending.

“If it wasn’t so sick, it would be a joke,” Carol; Beaumont said.

“But it’s no joke what National has allowed to happen under its watch.

This proposal is far too late for far too many people.”

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